Laid off in Oct. Just landed a Sr. SWE role at a FAANG and with RSU’s just 3x what Schwab was paying and I only have to go in once a month or once a quarter for team building. I have little kids and a sick parent and this means I can get home based... — read more 

Will laid off employees get a bonus tomorrow or was it already part of the severance package?

From an MD regarding Engagement Survey Results: No one in upper management cares, there is no pressure or drive to improve scores. Scores were expected to drop after the RIF event and stay low for a few quarters. For low scorers, no one is getting... — read more 

We were told in a meeting that productivity is low on WFH days (Tuesday/Friday) … unless it improves then WFH will go away .. we asked if it was our team.. and why wouldn’t they just remove it from those underperforming reps .. Response our teams... — read more 

I was part of the layoff last October from tech. I just landed a new role that is a promotion and higher pay, also remote and flexible, but in an industry that isn’t doing great- auto. It’s more of a stop gap I think, but it’s a solid opportunity... — read more 

Middle managers are getting the short end of the stick as they face increased pressure from companies carrying out layoffs and return-to-office mandates, and their confidence levels have hit new lows as a result, Glassdoor's Employee Confidence... — read more 

Inflation rate is predicted to be 2.3% in 2024.

Some great people quit, one even ahead of bonuses, because they hate RTO. But I haven’t seen anyone who just didn’t show up and kept working from home get in trouble…

Anyone else notice a HUGE shift in the job market in the last 7-10 days? I received zero contacts from applications I submitted in the 4 weeks prior to last week. Then 4 interview requests came in 2/28 - today… Is it just that companies are finally... — read more 

Did anyone else attend the CSS AMM where they spent half hour on “rumors,” about the EC? The approach was completely classless, to the point I was shocked. Why are they not focusing on the day to day challenges? Whose ego in the EC got hurt and... — read more 

Ok I’m laying this all out because the site is anonymous- I got an exceeds and got 100% of my target bonus. This company is treating everyone too disparately and EC/Senior Leadership for some reason is he-l bent on making everyone feel unhappy to... — read more 

So how many are quitting ?!

If on the business side, you may want to seek out “Brokers swipe back at Morgan Stanley in recruiting dispute” by Dan Shaw in FinancialPlanning from earlier this month. Short version is SCH going after $3M plus from two former brokers and... — read more 

Wondering what everyone else got this year. Bonus was funded at 72% Merit increase was 2% Last year was only 'Met Expectations' and merit was 2% This year was 'Exceeded Expectations' and still only 2% Regardless of expectations you get the same... — read more 

I was never one to complain about RTO as I wanted to focus more on career development and building my skills. I'm still in my 20s and have no family. But now that we've been back for a few months I just can't wrap my head around why they need to... — read more 

I'm seeing a lot of people posting about how they got letters/emails regarding bonus payouts. I have received nothing, curious to know if it's state/location or operational area specific. Any insights appreciated.

IME means Inconsistently Met Expectations. I got zero bonus, but allowed to keep the advances (thanks!). Received a 1% merit increase though. Go.

This is such a heavy org, probably why dysfunctional. Directors with a few people, Directors on Directors and MDs all over the place. With all the RTO and exception fiasco, why isn’t the HR Dept under more scrutiny? How satisfied are people with... — read more 

Have you heard what the target merit increase percentage is? Haven't heard anything on those. We were all told 73% of bonuses, but I have heard of 2 people receiving 90% of the bonus. Good luck everyone!

In case you weren't aware -- in typical Schwab fashion of being 10 years behind everyone else, we're in the process of building out an offshore campus to reduce costs. This will be heralded as a cost savings / quality increase measure vs offshore... — read more 

This article brilliantly sums up what is happening at Schwab: https://www.businessinsider.com/bosses-quiet-firing-staff-avoid-public-backlash-layoffs-2024-2?utm_source=copy-link&utm_medium=referral&utm_content=topbar

Before the moderator asks the scripted questions that hold no value to actual employees, but exist to give us all the impression that senior leaders are just humble, misunderstood people like us who have had to sacrifice just like us. That we're all... — read more 

RTO doesn’t improve company value, but does make employees miserable: university of Pittsburgh Study finds https://arstechnica.com/science/2024/02/rto-doesnt-improve-company-value-but-does-make-employees-miserable-study/

Mostly Green Square redundancy that didn’t get the axe in the previous rounds. I’d love to see the RTO related departures impacts, heard a bunch of people just hanging around to see if they actually do get 73% of their bonus opp. — read more 

I hope my PM quits that guy is mentally abus1ve to our team. He causes more problems then he solves. At this point I'm thinking my only option is to report to HR but I don't think they will help. Any tips on what I should do?

anyone else feel like maybe they ate the outside and threw out the cores?

Lately hearing lot of whisper in Advisor Technology . Is something coming in near future , on downsizing side? Feeling bit nervous .

Asking for a frien… er, comrade. https://www.thelayoff.com/t/1n9P0GYN

One of Schwab’s biggest issue right now is employee morale. There is no quick fix for this and leadership seems unable to effectively manage it. There is a level of elitism, fake humility, etc that is palatable. Without broad-based trust the company... — read more 

The entire biz model is based on sc--wing over investors that have cash balances in their brokerage accounts (not their bank accounts). How is this doing what’s best for clients and how long can this continue?

73%? They lay us off because of their bad judgement and then want to further short change us in this market? I just found out so even if this is old news, it’s new to me. I’m livid because I’ve always gotten above the funded target and now was laid... — read more 

How is this company going to keep running when the remaining smart ones all quit after March 8? We’re stretched thin as it is and it’s going to be he-l when the PM-to-doer ration jumps from 50:1 to 200:1.

When the knee-jerk reaction to a problem is playing the blame game rather than rolling up sleeves to deal with it, the management can't act shocked when the problem becomes unfixable down the line despite our best efforts. Finger-pointing may offer... — read more 

I just want to be clear that I’m no fan of Schwab as a company since I was impacted by the layoff. But the messages on here seem quite skewed because they cannot always be relied on. The anonymity makes it so we cannot always trust what we read. .. — read more 

Answer would be ALL , that is final answer. As given scenario , Schwab cannot nuke everyone in single instance. If forum wanted to name BEST among Worst , and Worst Among Worst and everything in between , What are those names?

I got my severance, you can hire me back now!